GRAMMER AG : Tendering of Hastor stake triggers TP increase
>Hastor has tendered its stake in Grammer - According to current newsflow, Hastor has tendered his >20% stake in Grammer. In our view, this will have a positive impact on Grammer’s underlying operational business in Automotive as Hastor’s stake has burdened Grammer in two ways. First, order intake has been clearly depressed because German premium OEMs, who have had some bad experiences with the business practices of Hastor in the past, have avoided awarding orders to ...Grammer is engaged as a producer of seating systems and automotive interiors. Co. supplies original equipment manufacturers (OEMs) of commercial and off-road vehicles, including agricultural and forestry vehicles as well as construction machinery and material handling vehicles. Other customer groups include rail transport OEMs, rail operators and bus manufacturers. Co. operates through two division: Seating Systems, which develops and produces driver and passenger seats for agricultural and construction vehicles, forklifts, trucks, buses and trains; and Automotive, which supplies headrests, armrests and center consoles to carmakers and systems suppliers for the automotive industry.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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